Entrepreneurial Ventures: Types, Impact, Traits, and Background

Entrepreneurial
Ventures

Table of Contents
INTRODUCTION......................................................................................................................3
TASK 1......................................................................................................................................3
Covered in PowerPoint...........................................................................................................3
TASK 2......................................................................................................................................3
P3. Interpret relevant data and statistics to examine the impact of micro and small business
on the economy.......................................................................................................................3
P4. Explain the importance of small and start-up business for growth of social economy....4
TASK 3......................................................................................................................................5
P5. Determine the characteristics traits and skills of successful entrepreneurs that
differentiate them from other business managers...................................................................5
P6. Assess the various aspects of entrepreneurial personality traits that reflect motivation
and good mindset....................................................................................................................6
TASK 4......................................................................................................................................7
P7. Demonstrate background and experience with any two entrepreneurs that hinder or
foster business owners............................................................................................................7
CONCLUSION..........................................................................................................................8
REFERENCES...........................................................................................................................9

INTRODUCTION
Enterprise is also termed as profit-earning business as being stable on its position with
continuously achieving success. The entrepreneurs are the persons who run business through
strategic decision making procedure by developing innovative ideas that increase their
competitive advantage. It creates opportunity for growth and stability of business by
competing with rivalries to sustain in global market. The organisation selected as client for
London Chamber of Commerce in this project is Milton Keynes Council as being the local
authority of Borough for Milton Keynes in Buckinghamshire, England. It is the unitary
council, having the powers of both Non-metropolitan County and district council. This
project analyse various types of entrepreneurial venture that relates with typology of
entrepreneurship (Campbell, 2014). It explores the similarities and dissimilarities between
various entrepreneurial ventures. This further interprets relevant data and statistics and
explains the importance of small and start-up business for growth of social economy. It
determines entrepreneurial personality trait with skills and characteristics of successful
business owners that differentiate from managers. Additionally, it demonstrates background
and experience of entrepreneurs that hinder or foster in achievement of success.
TASK 1
Covered in PowerPoint
TASK 2
P3. Interpret relevant data and statistics to examine the impact of micro and small business on
the economy
Micro Business:- It refers as part of small business which includes annual sales and
assets less than $250,000 per year and less than 5 employees including business owner. This
further implies the relevant data and statistics of micro and small business that impact in
growth for micro and small business of economic sector are as follows:-